BIMB share rise following Bank Islam’s move to increase fund size to RM2b

A bank staff speaks on the phone inside the Bank Islam branch office in Shah Alam, outside Kuala Lumpur November 13, 2013. — Reuters pic
A bank staff speaks on the phone inside the Bank Islam branch office in Shah Alam, outside Kuala Lumpur November 13, 2013. — Reuters pic

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KUALA LUMPUR, June 2 — BIMB Holdings Bhd’s share price on Bursa Malaysia reacted well following announcement that its wholly-owned subsidiary, Bank Islam Malaysia Bhd aimed to increase the fund of two products under its Term Investment Account over the next six months.

As at 10.26am today, the counter was four sen better at RM4.05 with 4,900 shares changing hands.

A news report today said Bank Islam was aiming for a RM2 billion fund for Waheed Investment Account (WIA Wakalah) and Special Investment Account (Mudarabah).

Another account, the Al-Awfar Account, was also launched today.

The bank also planned to maintain a RM2 billion fund size under its Transactional Investment Account, with 1.2 million account holders for Al-Awfar Account, which targets individual and retail institutions, it said. — Bernama

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